BSE: 544157
Vruddhi Engineering Works Limi
Supplies mechanical splicing solutions, principally rebar couplers, to India's real estate and infrastructure sectors. The product range also includes the Vruddhi Sonic Tube (VST), Vruddhi Conical Wall Tie (VCT), Terminator Coupler, and a Proofloading Machine. It has set up a Sonic Tube manufacturing plant in Pipalana, Gujarat, and supplies into metro projects, with RVNL Nagpur Metro named as a customer. FY26 revenue from operations was ₹4,300.37 lakhs, up from ₹3,180.23 lakhs in FY25, with profit after tax of ₹307.77 lakhs versus ₹149.15 lakhs. The company does not pay a dividend, citing the need to conserve cash for expansion. Its cost base is dominated by employees (8.4% of revenue) and other operating expenses (11.8% of revenue), with materials not separately disclosed in the cost-shape data provided. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Mechanical splicing solutions (rebar couplers and allied products). Small, family-run industrial manufacturer of mechanical splicing and rebar-related products, listed on the BSE SME platform.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 22 | 32 | 43 |
| EBITDA (ex other income) | — | — | — |
| margin % | — | — | — |
| Owners' profit | — | — | — |
| EPS, as reported (₹) | 3.11 | 5.91 | 12.20 |
| ROE % · ROCE % | — · 36.3 | — · 26.4 | — · 38.4 |
| Debt / equity (x) | — | — | — |
| Cash from operations | 1 | (3) | 3 |
| Capex | — | (2) | (2) |
Exhibit 2: Quarterly performance, last 5 quarters
| ₹ crore | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|
| Revenue | 12 | 14 | 18 | 13 | 30 |
| Profit before tax | 0 | 0 | 2 | 1 | 3 |
| Net profit | — | — | — | — | — |
| EPS (₹) | 0.88 | 1.55 | 4.36 | 4.21 | 7.98 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,786 | 97.2 | 24.93 | 80.7 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 29,194 | 78.7 | 9.52 | 50.8 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 27,680 | 50.5 | 6.20 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 22,459 | 64.9 | 4.72 | 31.9 | 7.6 | 9.8 | — | 17.1 |
| JYOTI CNC AUTOMATION LTD | 21,078 | 65.5 | 10.53 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| LMW LIMITED | 17,356 | 99.3 | 6.05 | 56.2 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,374 | 469.7 | 3.93 | 40.0 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,314 | 48.4 | 7.32 | 50.2 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 7.8 | 26.5 | 18 of 130 | 87% |
| ROCE | 34.7 | 11.3 | 4 of 142 | 98% |
| Revenue growth | 137.4 | 20.6 | 9 of 114 | 93% |
| Market cap | 36 | 279 | 117 of 141 | 17% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 21 Oct 2026 · RTA certificate under SEBI Regulation 74(5) for September 2026 quarter | compliance | minimal | — | — |
| 8 Oct 2026 · Vruddhi Engineering revises FY26 results, PAT more than doubles to Rs 3.08 Cr | results | medium | — | — |
| 1 Oct 2026 · AGM results: Both resolutions passed with 100 percent approval | compliance | minimal | — | — |
| 30 Sept 2026 · Vruddhi Engineering Works: Trading Window Closes Ahead of H2 Results | compliance | minimal | — | — |
| 30 Sept 2026 · AGM proceedings: financial statements adopted, director re-appointed | management changes | medium | — | — |
| 8 Sept 2026 · Vruddhi Engineering AGM on Sept 30, FY26 net profit doubles to 307.77 Lakhs | board shareholder meetings | medium | — | — |
| 8 Sept 2026 · Annual Report 2025-26 and AGM Notice filed with BSE | board shareholder meetings | low | — | — |
| 15 Jul 2026 · RTA certifies Regulation 74(5) filing for June 2026 quarter | compliance | minimal | — | — |
| 29 May 2026 · Attached | compliance | minimal | — | — |
| 28 May 2026 · Attached | results | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.